[Apple’s revenue growth slowed in the fourth fiscal quarter and fell 1% after the bell] November 3rd, Apple said in a statement on Monday that revenue in the fourth fiscal quarter ended September 26 increased by 12% to US$114.5 billion. Analysts on average expected $113.5 billion. Apple had forecast revenue growth of 9% to 11%. That growth rate was down from 16% in the June quarter. In addition, Apple’s revenue in Greater China this quarter was US$17.54 billion, a year-on-year increase of 21%, which was lower than market estimates of US$18.75 billion. Apple did not update the standard iPhone in September as it does in previous years, and supply shortages have made it difficult for the company to provide sufficient inventory. Apple also faces slowing growth in its services business and a scramble to catch up in artificial intelligence. After the financial report was released, Apple's stock price fell 1% after hours.